Does anyone have the result of the recent taxsale in Haldimand County?

[Jayz]

especially that building. Is that a good deal went unnoticed?

[johny]

especially that building. Is that a good deal went unnoticed?

Property 1: No Bids
Property 3: Sold $60,000 (the only tender)
Property 4: Sold $4,500 (the only tender)
Property 7: Sold $9,100, second highest $6,095

No idea if the building was a good deal or not.  I wouldn't want anything to do with a big industrial property in the middle of nowhere but I guess at least one person thought it was a good enough deal to put in a bid.  (I assume you where referring to property number 3)

[Jayz]

Thanks johny. You've just earned one more karma.

Wow, sold for the minimum. I am not sure if I will call it "in the middle of nowhere". With less than an hour driving to Hamilton, Niagara Falls, Brantford, a little over an hour to Mississauga, I think it's a super deal if the building is as good as it looks outside in the picture. for 60 grand you can only rent a building of the similar size in Mississauga for half a year.

If Dave2 asks, I'll vote this the deal of the year.

[jt]

The building at 4540 Rainham Road appears to be a former grow-op:

http://canlii.ca/en/on/oncj/doc/2011/2011oncj503/2011oncj503.html

[Frank]

The building at 4540 Rainham Road appears to be a former grow-op:

http://canlii.ca/en/on/oncj/doc/2011/2011oncj503/2011oncj503.html

Thanks JT

That being the case, you can expect that the interior is a shambles.  Also, I did not look at this one but I would speculate that a search would have revealed Crown Liens which would survive a tax sale and make the successful purchaser responsible...if that is so, then this would definitely not be the deal of the century, but perhaps the mistake of the century.   It would be interesting to know the outcome. 

[Jayz]

Thank you for the info jt.

I am no expert, but grow-op in an industrial building doesn't sound that bad to me (comparing to residential units that are normally wooden structure and insulated). Unless there is really substantial amount of crown interest, I still vote for it (at least until maybe Dave2 wins that scrap yard for the minimum  )

[johny]

If the building is mostly steel and concrete I would doubt the grow-op did much damage.  I wonder if the grow-op will make mortgage financing an issue.  It's getting pretty hard to find a mortgage lender who will lend on residential grow-ops outside of the GTA these days.  If industrial grow-ops are treated the same it could negatively impact the re-sale value.

Thanks for the karma Jayz!

[Frank]

Thank you for the info jt.

I am no expert, but grow-op in an industrial building doesn't sound that bad to me (comparing to residential units that are normally wooden structure and insulated). Unless there is really substantial amount of crown interest, I still vote for it (at least until maybe Dave2 wins that scrap yard for the minimum  )

I suppose it all depends on what kind of operation they ran....there was one in the old Labatts plant in Barrie, and they tore it down.  There have been a few in greenhouses, and they are still standing...designed for that kind of application.   

There was one running in an industrial building in Hamilton that I was aware of and the place had to be gutted. 

[ruok]

Electrical issues can be a major problem as they have usually been altered or rigged for the increase in the output required for a grow op.